DICK'S Sporting Goods, Inc. (NYSE:DKS) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of DICK'S Sporting Goods, Inc. (NYSE:DKS - Free Report) by 10.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 137,071 shares of the sporting goods retailer's stock after buying an additional 13,486 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of DICK'S Sporting Goods worth $31,367,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealthfront Advisers LLC acquired a new stake in DICK'S Sporting Goods in the fourth quarter valued at $1,893,210,000. Norges Bank acquired a new position in DICK'S Sporting Goods during the fourth quarter worth about $221,693,000. Wellington Management Group LLP purchased a new stake in shares of DICK'S Sporting Goods in the fourth quarter valued at about $125,285,000. KBC Group NV increased its stake in shares of DICK'S Sporting Goods by 86.8% during the 4th quarter. KBC Group NV now owns 467,764 shares of the sporting goods retailer's stock worth $107,043,000 after purchasing an additional 217,390 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of DICK'S Sporting Goods during the 4th quarter worth approximately $23,791,000. 89.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. DA Davidson reduced their price objective on DICK'S Sporting Goods from $280.00 to $273.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Citigroup reissued a "neutral" rating and issued a $220.00 price objective (down previously from $230.00) on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Robert W. Baird reduced their price target on DICK'S Sporting Goods from $235.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 12th. Telsey Advisory Group reiterated an "outperform" rating and issued a $250.00 target price on shares of DICK'S Sporting Goods in a research note on Friday, March 14th. Finally, Wedbush reissued a "neutral" rating and issued a $215.00 target price on shares of DICK'S Sporting Goods in a research report on Wednesday, March 12th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $244.72.

DICK'S Sporting Goods Stock Performance

DKS traded up $4.68 during trading hours on Friday, hitting $185.33. 643,811 shares of the stock were exchanged, compared to its average volume of 1,155,366. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.72 and a quick ratio of 0.56. DICK'S Sporting Goods, Inc. has a 12 month low of $166.37 and a 12 month high of $254.60. The stock has a 50-day simple moving average of $206.44 and a 200-day simple moving average of $213.79. The stock has a market cap of $14.80 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 2.47 and a beta of 1.32.

DICK'S Sporting Goods (NYSE:DKS - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The sporting goods retailer reported $3.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.47 by $0.15. DICK'S Sporting Goods had a return on equity of 42.00% and a net margin of 8.65%. The business had revenue of $3.89 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the previous year, the firm posted $3.85 EPS. The business's revenue for the quarter was up .5% compared to the same quarter last year. Analysts anticipate that DICK'S Sporting Goods, Inc. will post 13.89 earnings per share for the current year.

DICK'S Sporting Goods Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were paid a dividend of $1.2125 per share. The ex-dividend date was Friday, March 28th. This represents a $4.85 annualized dividend and a yield of 2.62%. This is an increase from DICK'S Sporting Goods's previous quarterly dividend of $1.10. DICK'S Sporting Goods's payout ratio is presently 34.54%.

DICK'S Sporting Goods announced that its board has approved a share repurchase program on Tuesday, March 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the sporting goods retailer to repurchase up to 18.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

DICK'S Sporting Goods Company Profile

Dick's Sporting Goods, Inc engages in the retailing of an extensive assortment of authentic sports equipment, apparel, footwear, and accessories. It also offers its products both online and through mobile applications. The company was founded by Richard T. Stack in 1948 and is headquartered in Coraopolis, PA.